The Son of Finance of the Great Age

Chapter 347: Lost 100 million knives a day

  Chapter 347 Lost 100 million dollars a day

  Although it has been some time since the IMF announced the implementation of unprecedented large-scale assistance to South Korea, the domestic financial crisis in South Korea continues to ferment, and there are constant news of large consortiums and banks declaring bankruptcy. And on this day, South Korean Finance Minister Lim Chang-yeol said that he had reached an agreement with the IMF, agreeing to prevent foreign banks from conducting hostile takeovers of South Korean banks that are in trouble.

  This news is undoubtedly a great benefit for South Korea. Coupled with the rumors that the South Korean government persuaded the civil servants to reduce the amount by 10%, Ren Ruowei finally made up his mind to close all short positions on hand.

After the large-scale buying appeared in the market, the traders immediately discovered this phenomenon. After watching for a while, they were sure that the big shorts were closing their positions, so they followed behind to make trouble. The Korean won trading at the limit position has become active again. Naturally, the short sellers are not to be outdone, and once again sold a large amount of spot goods. In this way, between the two sides, the Korean won rose by more than 3 percentage points from the limit position, and Ren Ruowei also successfully closed most of the positions.

But hearing what Zhong Shi said, Ren Ruowei felt uneasy again. After peeking at Zhong Shi for a long time, he put on a bitter face and said helplessly: "Zhong Sheng, since everything is flat now, I also There is nothing to complain about. In a few days, the Korean general election will be held. I read related reports. Each candidate has his own set of solutions to the current financial crisis. Among them, Kim Dae-jung, who is the most vocal, declared That approach is more effective. I reckon that the financial crisis in South Korea is coming to an end, so I simply took advantage of today's sharp drop to gamble."

Zhong Shi looked at him with a smile, and said after a long time: "Your judgment is not wrong, Kim Dae-jung is indeed very vocal. But I still think that the fall of the Korean won has not yet bottomed out, and the financial crisis has not passed the most dangerous period, so I I advise you to book a car early, so as not to be in a hurry when you get it, I am really looking forward to a new car."

   Slapping his forehead, Ren Ruowei sighed helplessly, exchanged some pleasantries and left.

Sure enough, on the next day, on December 9, the International Monetary Fund announced that South Korea's foreign exchange reserves so far are less than 10 billion U.S. dollars, and by October, the total amount of short-term foreign debt they have to repay has reached As much as $100 billion. The huge difference between the two amounts made investors' confidence plummet. On this day, the Korean won once plummeted to about 1,465 won per US dollar, but at the end of the day, there was a purchase of Korean won worth as much as US$500 million. The amount of money made the Korean won rise by 5 prices, closing at 1460 won to 1 US dollar.

  Dropped 8.8% all day. This is a seemingly auspicious number. You must know that Feng Shui metaphysics is very popular in Hong Kong and Taiwan, and even numbers like 8 are also endowed with auspicious meanings. It's just that Ren Ruowei didn't have any other thoughts at this time. After seeing the Korean won hit a new low, the profit of more than 30% the day before immediately turned into bitterness.

  If he closed the position one day later, his profit would have increased by 132 million US dollars, which is absolutely astronomical, and because he closed the position prematurely, all these possible gains were wiped out.

"These bastards, they didn't announce it sooner or later, and they announced it after I closed the position. Could it be that they are playing me?" Cursing countless times in his heart, Ren Ruowei walked into Zhong Shi's office dejectedly, ready to take the blame After a while, it turned out that Ma Jiarui was also there.

   Seeing him coming in, the two of them just glanced at him and continued talking about the topic just now. Seeing that they had no intention of avoiding them, Ren Ruowei sat on the sofa and listened carefully with his ears pricked up.

   "10%, this is not a small number. I'm afraid those who hold Indonesian rupiah can't cry anymore?" Zhong Shi kept tapping his fingers on the table with a smile on his face, in a very happy mood.

Ma Jiarui was also very excited, his two thick black eyebrows were trembling all the time, and he said in a brisk tone: "These are all thanks to the Korean won. Since the IMF announced the actual foreign debt level of South Korea today, the Korean won has plummeted. It dragged down the entire currency market in East Asia. I just didn't expect that even if President Suharto showed up, the Indonesian rupiah did not improve at all."

"No!" At this point, the smile on Zhong Shi's face immediately disappeared without a trace, and his tone became solemn, "The problem is probably not that the market has lost confidence in the Indonesian rupiah, but that the bulls are selling, poor After being subjected to such a strong sell-off, the liquidity could not bear the heavy pressure at all, which resulted in an avalanche plunge."

   "Isn't there something wrong with our position?" Ren Ruowei, who had been silent all the time, was shocked when he heard this, and he asked in surprise immediately, regardless of the fact that Ma Jiarui was in charge of the Indonesian rupiah market.

  Hearing this, Zhong Shi and Ma Jiarui looked at each other and laughed in unison. Amidst Ren Ruowei's puzzled expression, Ma Jiarui explained: "Calm down, our Indonesian rupiah has been sold to someone else, and it's true that the other party is suffering so much."

"Really?" Hearing this, Ren Ruowei immediately felt relieved, but he quickly jumped out and said complainingly, "Zhong Sheng, why do you only help the old horse and not me? ? If you had reminded me a little bit yesterday, I wouldn't have lost so much money today!"

Zhong Shi looked at him suspiciously, pointed to his nose and asked, "Didn't I help you? If I didn't help you, then you couldn't wait to close your position two days ago. To be honest, the IMF announced today that I did not expect this news, Korean companies owe so much foreign debt, it is really speechless."

  Hearing this, and Zhong Shi's serious expression on his face, and his sincere tone of voice, Ren Ruowei sighed helplessly, and sat down again.

   "I heard that the envoys sent by the Indonesian government are lobbying all over the United States. I wonder if they will meet our buyer?" After teasing for a while, Ren Ruowei's face straightened, and he started talking about business again.

"That's for sure!" Zhong Shi nodded, "A position of 2 billion U.S. dollars, which is as much as 7 trillion rupiah, whoever is holding it in his hands will have trouble sleeping and eating. I think both sides will take advantage of this This is an absolutely good opportunity to find out.”

"Yes!" Ma Jiarui nodded, agreeing with Zhong Shi's point of view very much, "I heard that if the Indonesian side is bullish on their currency, they will definitely use it to make a big fuss. And that person must be very anxious now, thinking How to find out what happened to the Indonesian rupiah as soon as possible, so the conversation between the two sides must be sparks hitting the earth, sparking sparks all over the sky."

   "Who is that person you are talking about?" Ren Ruowei was confused again, tilting his head and asking in puzzlement.

   Seeing his confused look, Zhong Shi and Ma Jiarui laughed unceremoniously again. After laughing for a few minutes, Ma Jiarui finally straightened his body from his leaning forward and backward and said: "Ren Sheng, guess who is the most famous in the market now? Whose words can affect a country's currency in the market. Performance?"

Ren Ruowei lowered his head and pondered for a while, and when he raised his head again, a look of surprise appeared on his face. Seeing Ma Jiarui nodding towards him unobtrusively, the corners of his mouth twitched slightly, and he said in disbelief: "Could it be... It's him?"

   "Who else is it?" Zhong Shi shook his head, touched his nose subconsciously, and couldn't help laughing out loud.

  …

  At this time, Soros and Druckenmiller were like ants on a hot pot. Both of them were fidgeting, walking back and forth in Soros's spacious office.

"I didn't expect the liquidity to be so poor. We only invested 50 million US dollars, and the drop reached 10%. If we want to liquidate all positions, the loss is unimaginable." After walking back and forth for a long time, Druckenmi Only then did Le let out a long sigh and said bitterly.

"Don't worry, it's not the last step yet!" Compared to Druckenmiller, Soros was a little calmer, but that's all, "The most important thing now is to get more money from Muhammad." information, and ask whether the rumors about Bank Indonesia are true, and what the Indonesian government plans to do. After these inquiries are clear, it will not be too late for us to make a decision.”

Speaking of the rumors that suddenly appeared in the market, Druckenmiller frowned and asked inexplicably: "By the way, why did such rumors suddenly appear in the market? You must know that this is the exclusive news we got. .How does anyone else know about it?"

Soros shook his head slowly, he was also very puzzled, but this is not the time to pursue this issue, so he can only list a few possibilities: "I guess there is a problem with Bank Indonesia. Since we can grasp The related information is naturally possible for other people too. It’s just that this news was not spread out sooner or later, and it happened to be spread out at this time, which is really not good for us.”

Druckenmiller touched his chin, and after thinking for a long time, he asked suspiciously: "George, is there a possibility that someone is deliberately against us and let us get stuck in the Indonesian rupiah?" Can't get out of the quagmire?"

"This..." Soros frowned and thought for a long time before laughing dumbly, "Is this impossible? If you want to say that the biggest opponent is probably the Indonesian government with a brain like a pig, they are the only ones who have the ability to make us fall." Such a big somersault. But they use the entire national economy as a bargaining chip, the price is too high, and they think too highly of me, an old man."

"Okay, don't think about it. You pack it up as soon as possible, and prepare questions when you see Muhammad tomorrow, and you must get something out of his mouth." Seeing that Druckenmiller still bowed his head and remained silent , Soros simply issued an order to expel the guests. After this night of trading, several people were exhausted and out of breath, and it would be inhumane to continue working.

  Drukenmiller nodded and strode out of Soros' office. It's just that his brows were still deeply frowned, and he was still full of doubts about this "coincidence".

   Thanks to the book friends Wuyue Daoweiqing, Fushen Zhang and Molong Zhangui for their monthly support! Thank you book friend Tian Wuxing for your evaluation vote! Thank you very much for your support!

  

  

  (end of this chapter)

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